EUR / USD today: euro is correcting after growth
At the start of the day, the EUR / USD pair appreciably strengthened on the results of the EU summit. As a result, the American dollar was under considerable pressure, and this pair came out of a downtrend.
Events for today:
- 15:30 – data on the United States: the basic price index of personal consumption expenditure in the US (m / m), the basic price index of personal consumption expenditure in the US (y / y) and the costs of individuals in the US (m / m).
- 16:45 – the index of business activity (PMI) in Chicago (USA).
- 20:00 – a number of drilling rigs in the USA from Baker Hughes.
After the pair’s rapid growth, the market has noticeably increased optimism, which can be traced in the strengthening of European stock exchanges. At the same time, optimistic data on the UK exerted pressure on the euro in the cross with the pound and slowed the strengthening of stock indices.
As a result, the pair EUR / USD is trading in flat and with further increase in optimism can update the resistance levels: 1.1680 and 1.1700. Levels of support are the marks: 1.1630 and 1.1600-1.1580, the test of which is expected on the recovery of the American dollar.
Read also: “Geopolitical risks as the fundamental factors of the market”
Hanzenko Anton